Advisor Perspectives
AUGUST 14, 2023
When adjusting for more realistic assumptions and considering the fact that the insurance company can change return caps and that inflation is both an unknown and deep risk, an FIA, along with most annuities, is not on the efficient frontier in either accumulation or decumulation phases.
The Big Picture
AUGUST 18, 2023
I have a new column out in Businessweek , just in time for the Federal Reserve meeting in Jackson Hole. It is a congratulatory open letter to Federal Reserve Chairman Jerome Powell and the rest of the Fed on beating inflation: Dear Jay, Mazel tov! You beat inflation and avoided a recession. Revel in the sweet taste of victory as you fly-fish with other central bankers at the annual symposium in Jackson Hole, Wyoming.
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Abnormal Returns
AUGUST 16, 2023
Podcasts Morgan Housel on how fragile the world can be. (open.spotify.com) Annie Duke talks decision making with Steven Pinker. (alliancefordecisioneducation.org) Joe Wiggins and Paul Richards talk about how regret affects our decision making. (podcasts.apple.com) Housing How to save for the biggest purchase in your life: a house. (ofdollarsanddata.com) Don't underestimate the upfront costs of buying a house.
Nerd's Eye View
AUGUST 15, 2023
Welcome back to the 346th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jim Ludwick. Jim is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and also created Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills.
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Financial institutions continue to look to quantify the impact of new technologies. Meanwhile, business lending technologies have grown more popular in the industry. However, understanding the impact of said technologies means understanding how to increase your revenue while decreasing your costs. This is key for the growth of your organization. Biz2X created this eBook to analyze the ROI of business lending platforms and learn about the short-term and long-term benefits of said platforms.
The Reformed Broker
AUGUST 18, 2023
Barry’s new piece for Bloomberg is really good. I had a good laugh at this section: Inflation Expectations Surveys Are Useless The world is more complex, random and global than ever before. Multiplying unknowns have made economic forecasting even more difficult. But for hilariously wrong predictions, nothing beats surveying random people about where they think inflation will be in five years.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
AUGUST 17, 2023
Rates Mortgage rates are at levels not seen since 2001. (axios.com) Global government bond yields are at 15-year highs. (finance.yahoo.com) Markets Valuations don't matter in the short term. (theirrelevantinvestor.com) Forecasting is hard, the GMO edition. (ft.com) Companies Verily is setting the stage for a spinoff from Alphabet ($GOOGL). (theinformation.com) The city of San Francisco is struggling.
Nerd's Eye View
AUGUST 18, 2023
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent study has found that consumers are increasingly likely to spread their portfolios across a range of asset managers, and that this trend is particularly pronounced amongst more affluent clients (e.g., millionaires), suggesting that advisors who believe they hold "everything" their clients have may actually have less than they realize.
The Reformed Broker
AUGUST 18, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Eric Balchunas, Jeremy Schwartz, and Downtown Josh Brown discuss the magnificent seven, the bond market, defined outcome ETFs, inflation, the spot bitcoin ETF saga, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
The Big Picture
AUGUST 12, 2023
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • How bonds ate the entire financial system : A very short, very wild history of the market that will shape the next financial crisis. ( Financial Times ) • The demonisation of BlackRock’s Larry Fink : All he wanted to do was save the planet while making his firm a fortune.
Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor
During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.
Abnormal Returns
AUGUST 13, 2023
Top clicks this week The equity risk premium in the U.S. keeps falling. (economist.com) Five common personal finance lessons that are wrong. (genyplanning.com) Why are market cap weighted indices hard to beat for managers? (behaviouralinvestment.com) When do dividend-focused strategies outperform? (morningstar.com) Every investment strategy has multiple 'points of failure.
Nerd's Eye View
AUGUST 16, 2023
Financial advisors create value for clients not only by giving good advice, but also by ensuring that the advice they give is actually implemented. After all, financial planning is worth a lot more to clients when they act on the advisor's recommendations (and realize the projected outcomes), in contrast to the advisor simply handing clients "The Plan" that is never actually implemented.
The Reformed Broker
AUGUST 15, 2023
Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Retail Earnings – Consumers are still spending. ►Stock Picker’s Delight – Sector correlation and valuation disparities are providing value opportunities.
The Big Picture
AUGUST 12, 2023
This week, we speak with asset management expert Ted Seides , founder of Capital Allocators. His most recent book is “ Capital Allocators: How the world’s elite money managers lead and invest ;” he is also the host of the popular “ Capital Allocators” podcast , which reached 16 million downloads in June. Seides is a CFA charterholder and has an MBA from Harvard Business School.
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Abnormal Returns
AUGUST 14, 2023
Podcasts Michael Kitces talks with Lori Van Dusen, who is the CEO of LVW Advisors, about working with UHNW families. (kitces.com) Brendan Frazier talks about how to send a great prospect follow-up e-mail. (wiredplanning.com) Dan Haylett talks funded contentment with Brian Portnoy of Shaping Wealth. (humansvsretirement.com) Corey Hoffstein talks with Martin Tarlie, a Portfolio Manager at GMO, about bridging the gap between financial planning and portfolio management.
Nerd's Eye View
AUGUST 14, 2023
When a financial advisor first opens their own firm, they often start with few (or no) clients and little revenue. And while they might have an ideal target client in mind, it can be tempting to bring on any client who can pay the advisor’s fee so that the advisor can simply ‘keep the lights on’ But as the firm grows, these initial clients might not generate as much revenue as the firm’s newer clients, perhaps because they were grandfathered into a lower annual fee schedu
The Reformed Broker
AUGUST 15, 2023
China’s stimulus actions are not enough, says Ritholtz Wealth’s Josh Brown from CNBC Bank of America downgrades Valero and four other refiners from CNBC Final Trades: Fortinet & Marriot from CNBC
The Big Picture
AUGUST 17, 2023
There is a particular type of analysis I keep seeing that can mislead investors. It’s an important, single data point, but one that is lacking in context. This seems to be an oversimplification that many investors have as their default setting. It’s like a bad syllogism : Observe a Single Data Point; Reach a broad conclusion about it; Express this in a trade or investment idea The problem with any single data point is that the real world is complicated, messy, and filled with randomness an
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Abnormal Returns
AUGUST 14, 2023
Strategy Energy stocks have stopped going down. (allstarcharts.com) Don't fall in love with a stock. (financialducksinarow.com) Crypto How much Bitcoin would spot ETFs hold? (bloomberg.com) Coindesk has laid off editorial staff. (theblock.co) Finance The private credit business is booming. (axios.com) Small banks are less exposed to commercial real estate loans than commonly thought.
Nerd's Eye View
AUGUST 14, 2023
When a financial advisor first opens their own firm, they often start with few (or no) clients and little revenue. And while they might have an ideal target client in mind, it can be tempting to bring on any client who can pay the advisor’s fee so that the advisor can simply ‘keep the lights on’ But as the firm grows, these initial clients might not generate as much revenue as the firm’s newer clients, perhaps because they were grandfathered into a lower annual fee schedu
The Reformed Broker
AUGUST 17, 2023
Final Trades: Apple, 3M & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
The Big Picture
AUGUST 15, 2023
The transcript from this week’s, MiB: Ted Seides, Capital Allocators , is below. You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
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Generative AI (Artificial Intelligence) is poised to revolutionize the world of business lending. By understanding the impact and possibilities of Generative AI in business lending, banks can stay ahead of the curve and make informed decisions. Generative AI has the potential to revolutionize how lenders make credit decisions, automate loan processes, and provide personalized customer experiences.
Abnormal Returns
AUGUST 18, 2023
Strategy Even if you have the news, doesn't mean you can predict the market's reaction. (theirrelevantinvestor.com) Don't confuse cash and bonds. (monevator.com) Startups Instacart could go public as early as next month. (finance.yahoo.com) SpaceX now reportedly running around breakeven. (wsj.com) Streaming Cable and broadcast are now less than 50% of viewing.
Good Financial Cents
AUGUST 14, 2023
From its humble beginnings in 2008 to today, Bitcoin’s history has been relatively short but very eventful. The original protocol for this popular digital currency was created in 2008 by Satoshi Nakamoto , believed to be a pseudonym for an unknown developer or group of developers. Nakamoto launched the Bitcoin network just a year later and began mining the currency— an estimated 1 million bitcoins were mined in the early years.
Fintoo
AUGUST 17, 2023
Markets broke crucial support on Thursday with Dollex 30 Index i.e., Sensex in USD terms breaching the support line occurring on 1st Dec 2022 thus opening gates for a 20% decline in the near term on a long-term basis. Markets tend to remain strong as long they hold comfortably above the previous highs, while below […] The post Market Morning Notes For 18th Aug 2023 appeared first on Fintoo Blog.
The Big Picture
AUGUST 14, 2023
My back-to-work morning train WFH reads: • There Is No “Stealth Fiscal Stimulus” The federal budget deficit is widening thanks to falling capital gains tax receipts and soaring net interest interest payments (including via the Federal Reserve). None of this is likely to boost PCE. ( The Overshoot ) • The Clean Energy Future Is Arriving Faster Than You Think : The United States is pivoting away from fossil fuels and toward wind, solar and other renewable energy, even in areas dominate
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!
Abnormal Returns
AUGUST 15, 2023
Rates Rising bond yields continue to boost future returns. (awealthofcommonsense.com) Companies are not betting on lower rates any time soon. (ft.com) How higher interest rates are going to pinch corporate profits. (klementoninvesting.substack.com) Finance Blackstone ($BX) is not backing away from the growth equity business. (bloomberg.com) Is there a structural imbalance in the secondary market for private equity fund stakes?
Wealth Management
AUGUST 18, 2023
Sequoia Financial Group is adding a team specializing in special needs families, while Wealth Enhancement Group announced its 10th acquisition of the year, a CPA practice has returned to Cetera and Kestra onboarded $1.6 billion in the second quarter. Some top hires and custodian moves were also announced.
Trade Brains
AUGUST 17, 2023
Fundamental Analysis of Elecon Engineering Company: The stock of Elecon Engineering Company has generated a whopping return of 1,000% in the last five years for its investors. With the CAPEX cycle underway and the government’s huge budget outlay and ‘Make in India’ initiative, the investors are still bullish on this industrial equipment manufacturer.
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